Newbie saying hi

From my understanding, the trade in is just a purchase of your old vehicle. The dealer purchases it, then stores it on his lot until he can sell it. Presumably if he sells for about the same price as a private sale, the margin is what it costs them to store your car for those days/weeks/months plus the dealer profit. That seems to vary, but from what I've seen it can be as much as 10% to 20% of the price of the car.

Trade in is convenient - it can be done at the time of pickup of your new car, and things like insurance, plates, and autotoll tag can be swapped at that time. But, is it worth that 10% to 20% hit.

The dealer is buying the car from you, so it is in their interests to make the trade in price as low as possible. The price offered should be competitive to other dealer offers.

I contacted Kingsway before with a view to selling my aged Mercedes. Kingsway is independent of Tesla and in fact two separated companies. I have a feeling that no matter how much Kingsway earn from you, Tesla simply has no interest. The introduction of Kingsway is simply a kind of customer services providing you a route to trade in your car. In my case, Kingsway only offered to tow my old Mercedes for scrapping i.e. worth nothing

Last time I did this, the salesman just helped me make the deal. The cashiers cheque was cut by the dealer actually buying the car.

Think of it as two transactions:

1] Kingsway buy your old car and give you a cheque.
2] Tesla sell you a new car and you give them a cheque.

I guess that if the Kingsway cheque is < Tesla's cheque, then Kingsway could cut the cheque to Tesla directly, and you pay the difference. But, I think you'd have to ask Tesla themselves how that works (as this may change).

BTfd2e93 said:

cheers to everyone's replies.

i'll be calling the valuation team at kingsway to check on my car's value. not holding my breath ... hahaha ....

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Please do let us know what you find out. I guess 88 cars will give a comparison (depends on how popular your current car is).

BTfd2e93 said:

cheers to everyone's replies.

i'll be calling the valuation team at kingsway to check on my car's value. not holding my breath ... hahaha ....

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Good luck! I held onto my 7 years Camry for more than a month, didn't bother to go through any agent/trader, as others have said disposing old one didn't affect me getting a Tesla.

BTfd2e93 said:

Hi Folks,


Since there are no real tax savings in HK - im wondering how I can make this happen.

I know that folks will be saying to sell privately - but then it becomes quite the hassle, as Im not keen on the idea of having tons of tire-kickers calling to do test drives.

Any insight would be much appreciated!

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What did you mean by no real tax savings, BT?

I did sell one of my old (almost 10 years) Bluebird to an expat who came to work in HK by putting an ad on AdPost. Not sure if you know that test drive is not really required. Interested buyer can see the car but you can refuse letting them have a test drive as who knows who will take the blame if s/he hits someone or something.

I have another experience of selling my E250 some 3 years ago to 2nd hand dealers by posting on webs such as 88 Car. Once I have done that, all 2nd hand dealers seemed to know that and "collusively (at least my feeling was)" set the price. I can tell you that the price that you can get from those 2nd hand dealers is at least 25% below that they can finally sell (not including any profit that they can make by giving financing). That represents their costs for re-touching, parking, advertisements, overhead, and profit. My suggestion is that you try to ask around those you know if they know someone who wants something like your old car and sell it a little bit cheaper than that they can get if they buy from 2nd hand dealers. At that price, you will still get something more than what a 2nd hand dealer will give you. If in vain, then try to know the price that you will get a similar car from 2nd hand dealers, make a 20% discount offer to 2nd hand dealers and sell it within a couple of days. Otherwise, you will end up getting even less.

I know I'm killing the joy here but there are actually respective threads for the topics discussed above. Please try to do a search and post your questions under relevant threads, this will help new members keep track of the discussions as well as minimize the work of the moderator.

BTfd2e93 said:

Noted. Would you mind sharing the links to the posts that are related to trade-in for HK? I tried to search "Trade-in hong kong" and I couldnt find any relevant threads. the only tradein threads were US based. would be very interested to hear about experiences in the HK market.

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For introduction, there is "Introduction (Hong Kong)" up as a sticky post. For trade-in, you may go to Resale Guarantee Resale value guaranty

You may also suggest the moderator to update thread titles as the discussion progresses.

jsiu said:

I contacted Kingsway before with a view to selling my aged Mercedes. Kingsway is independent of Tesla and in fact two separated companies. I have a feeling that no matter how much Kingsway earn from you, Tesla simply has no interest. The introduction of Kingsway is simply a kind of customer services providing you a route to trade in your car. In my case, Kingsway only offered to tow my old Mercedes for scrapping i.e. worth nothing

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Thanks Johnny good to know (first post I came across)